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2Key Terms to RememberPAC: established by businesses, labor unions, and interest groups to channel money to campaignsHard money: contributions restricted by campaign lawSoft money: unregulated money contributed to parties for the purpose of party building activitiesIssue ads: ads that seek to inform citizens about critical issues. Some claim that this is a loophole to campaign finance.

4Major changes to the FECASet limits on contributionsEstablished the FECBuckley v. ValeoBipartisan Campaign Reform Act of 2002Banned soft money at the national levelRestricted issue adsIncreased contribution limitsIndexed limits for inflationCitizens United v. FEC (2010)Government may NOT ban corporate spending in a political campaign

5Other characteristicsIncome tax check-off for public financing of presidential elections and party conventionsEstablishes matching funds program for primary electionsFirst publicly funded election in 1976 (Ford v. Carter)National elections ONLY…NOT state or local elections

6Banned Contributions Foreign nationals Government contractorsThose with green cards are able to contributeGovernment contractorsCorporations and Labor UnionsContributions in the name of anotherNo cash contributions over $100

7What counts as a contribution?Any donated items such as office supplies and equipmentDiscounted pricingFundraiser ticketsLoans and loan endorsements

8Independent ExpendituresMoney spent for a communication that specifically pushes for the election or defeat of a federal candidateNot connected with a campaign organizationDoes NOT count as contributionUnlimited (Buckley)Disclosure within communication